May 28, 2023

Dubai Week

Complete Dubai News World

Oil prices were reported at $86.31 per Brent, while US crude was at $82.52.

I Wrote – Marwa Al Ghul

Saturday, April 15, 2023 at 02:00 PM

Recorded Oil prices Brent crude futures were at $86.31 a barrel, and U.S. West Texas Intermediate crude futures were at $82.52, as oil prices posted their fourth consecutive weekly gain.

Russian oil exports hit their highest level in March 2023 since April 2020 due to an increase in supplies of petroleum products, while export earnings rose $1 billion to $12.7 billion compared to February, the International Energy Agency said in a report.

Russia’s seaborne supplies rose 0.6 million bpd to 8.1 million bpd, while exports of petroleum products rose 450,000 bpd to 3.1 million bpd on a monthly basis, according to a Russian report. Company TASS.

The International Energy Agency has indicated that revenue has also been received Russia Oil exports rose $1 billion in March, but fell 43% year-on-year.

Russia cut crude output (excluding gas condensate) to 9.58 million bpd in March, 900,000 bpd below plan, the company said. However, Moscow announced a production cut of 500,000 barrels per day from the February average that began in March.

The Office of Fisheries and Aquatic Resources in the Philippines announced this Saturday that the amount of losses resulting from the oil spill in the province of “Mindnao Oriental” has exceeded one billion Philippine pesos.

The Philippines’ “ABS-CBN” network said last February that slicks spilled from an oil tanker destroyed 441 million Philippine pesos worth of fishing equipment and supplies, and authorities are periodically testing water and marine life samples to determine containment measures. Providing social assistance to fisheries and its workers, cleaning and disinfecting and protecting citizens from hazards.

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The Ministry of Development and Social Welfare announced a few days ago that nearly 37,000 families have been affected by the oil spill.

The tanker, which was carrying 800,000 liters of industrial fuel, sank on February 28 while traveling in rough conditions, and since then clean-up operations have been ongoing with international assistance.